Key News Overnight:
Mario Draghi restarted QE but faced an unprecedented revolt to do so. The French, German and Dutch central bank governors opposed the ECB chief’s decision to resume bond purchases, people familiar said. It cast a shadow over his parting stimulus efforts before Christine Lagarde succeeds him.
U.S. stocks gained on Mario Draghi’s actions and fresh optimism for the easing of China tariff tension. Treasuries fell, reversing ECB-prompted gains, as a report of a possible trade deal sent 10-year yields up more than three basis points and prompted futures traders to pare bets on how much the Fed will ease this year. The euro climbed, while the yen dropped.
Oil fell as OPEC said inventories topped the five-year average and the IEA added to bearish sentiment. Hog, soybean and cotton futures surged in Chicago on growing optimism that China will boost imports from the U.S. Gold gained along with nickel and copper.
In This Issue:
How’s WA tracking? | Analyst | Ian Christie
EV Battery: Strong Growth in August | Analyst | Helen Lau